Hi,

- After I run a maximum likelihood estimation using fmincon, I got the following message:

Optimization terminated: magnitude of search direction less than 2*options.TolX

and maximum constraint violation is less than options.TolCon.

In the meanwhile, the first-order optimality is still a large number.

Is this a good termination? Shoudn’t the first-order optimality be close to zero?

- If the t value for some estimated parameters are very small, does that mean these parameters cannot be accurately estimated with data? The likelihood is very flat over these parameters?

I also noticed that the estimated value will not deviate a lot from the initial values for these parameters. Does that mean data do not have enough information to estimate these parameters?

Thanks.

Emma